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AlanSantana
Jan 20, 2022 2:32 PM

Bitcoin's Short-Term Update | Path to 44K Mapped Long

Bitcoin / U.S. dollarBitstamp

Description

Looking at the 1H timeframe for the BTCUSD pair, we have multiple bullish signals developing; the path is clear to 44K.

Let's get started!

First, we have a volume breakout.
Volume is a very important signal used for confirming a move.

Rising volume as prices challenge resistance is always good.

The MACD is on the bullish zone and ready to grow.
The RSI is at 61.36 while trending higher.

We have mainly two paths here, the green and red arrows.
Whichever one plays out, we are looking to go up.

When Bitcoin drops it drops fast, lately, we have seen consolidation taking place with a bias of pushing up.

What's your take?
Where do you see Bitcoin going next?

Thanks a lot for your continued support.

Namaste.
Comments
powerroad1
Alan, let me start by saying that I have found your analysis quite accurate for the time I have been following and I am grateful that you share your insight with us all. In this post you got one thing right on the money: "When Bitcoin drops it drops fast..." Please do not misunderstand me. I am all for Bitcoin turning bullish and I see all the things you are pointing out on the chart indicating same. However, there is also money to be made when the price of any asset goes down, and I believe that further analysis of Bitcoin short scenarios are in order at this point. I'm as vexed as you by BTC's price action lately. Looks up, but then suddenly turns down, and this last drop was a big one. When this downtrend is over, I am a firm believer in BTC turning bullish and cracking $100,000 + this year. The big question now looming for us all is where is the bottom? I ask you to use all your skills to help all your followers know where you think that bottom might be, because we clearly have not reached it yet...Sincerely, Your ardent follower.
trytofeelpositive
good chart
main target even higher,let's see what happens
Super_B_XinR
@trytofeelpositive, What are the odds of you winning?
graphbullS
Nice job
Mr00T
well, that went well...
Oacen
nasdaq is going up and alt coins like btc follow
InvestmentsHub
nice call mate, predicted this really ahead of time, awesome
WorldEconomics
We won't see another bull market for bitcoin for a long time, if ever. The largest influencer of bitcoin was the Fed, and now, the Fed pulling everything out and shrinking their balance sheet
troyolymia
Allan....you have got a lot of blind people rekt in long positions....
VasilyTrader
What is your stop placement recommendation here?
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